Record prizemoney for Cups and Plate

Victorian horse racing’s Big Three - the Lexus Melbourne Cup, Ladbrokes Cox Plate and Stella Artois Caulfield Cup – will all carry record prize money this spring after hefty increases were announced by Racing Victoria on Friday.

The Melbourne Cup received a $1 million lift to $7.3 million while the Caulfield Cup and Cox Plate become $5 million races after 40 per cent increases on the existing levels of $3 million.

A total of $12.4 million of prize money will be poured into prize money across the state from the state of the new season in August. As well as addressing prize money levels at the top end, Racing Victoria has also moved to bolster 67 country cups and other minor races across the state.

Racing Victoria was joined on Friday by the Victoria Racing Club, Melbourne Racing Club, Moonee Valley Racing Club and Country Racing Victoria in announcing the significant increases.

The investment will see a record $228.5 million in prize money and bonuses on offer in Victoria next season, representing a 32% increase since 2015 and leading to a nation high average of $52,057 in prizemoney and bonuses on offer per race.

All owners, trainers and jockeys will get the chance to share in the increases which are spread from iconic group 1 races at Flemington, Caulfield and The Valley to an array of once-a-year race meetings from Burrumbeet and Penshurst, to Gunbower and Wycheproof.

The highlights of Friday’s announcement are:

Record prize money for the jewels of Victoria’s Spring Racing Carnival in a year in which Victoria celebrates 25 years of international competition: $7.3 million Melbourne Cup (November 6) – up $1 million; the $5 million Caulfield Cup (October 20 ) – up $2 million; the $5 million Cox Plate (October 27) – up $2 million.

Continued investment in three-year-old racing with Australia’s oldest classic, the AAMI Victoria Derby (Flemington, November 3), raised by $500,000 to $2 million.

A prize money boost for every country cup with an additional $1.2 million to be spread across 67 TAB, non-TAB and picnic cups ensuring they remain a focal point for local communities to celebrate and enjoy,

The introduction of the $1 million The Showdown for VOBIS Sires-eligible two-year-olds at Caulfield on Victorian Owners and Breeders Raceday on April 13 thus increasing the number of $1 million+ races in Victoria from 17 to 18.

The further consolidation of Victoria’s place as the home of stayers with the Moonee Valley Gold Cup (2500m, The Valley, October 27) increased by $200,000 to $500,000.

Greater returns for first-time winners with minimum prize money for standard country maidens raised to $23,000, for premium country maidens to $26,000 and for maidens at midweek metropolitan meetings to $30,000.

Rewarding grass roots participation with minimum prize money for non-TAB meetings up 20% to $12,000 per race; up 25% for country SKY2 meetings to $15,000 per race; and up 11% for Benchmark 58s to $20,000 per race.

An increase in minimum metropolitan prize money to $40,000 for all two-year-old, three-year-old and Benchmark races at midweek and standard Friday night meetings, before rising to a $60,000 minimum per race for premium Friday nights at The Valley

Racing Victoria’s chief executive officer Giles Thompson said: "The prize money increases announced today serve to reward our owners, trainers and jockeys while ensuring that Victoria remains a destination for the world’s best as we celebrate 25 years of international competition.

"Our vision is ‘Racing for All’ and there is something for all owners, trainers and jockeys within these prize money increases which stretch from the Melbourne Cup to the Burrumbeet Cup.

"While we are delighted to deliver increases in prize money for the Lexus Melbourne Cup, Stella Artois Caulfield Cup and Ladbrokes Cox Plate, we’re equally pleased to boost prize money for every country cup in the state and to support our grass roots participants with increases to non-TAB, SKY2 and Benchmark 58 races also."

Melbourne Racing Club chief executive Josh Blanksby said the significant boost to the Caulfield Cup underlined it’s position as the leading 2400-metre handicap race in the world.

"The Caulfield Cup is the world’s pre-eminent turf handicap over the classic 2400-metre distance, a fact we are thrilled to have solidified by this enhancement," he said.

"It is particularly exciting that it coincides with a new naming rights partner in Stella Artois, signalling an historic time for the race and the Melbourne Racing Club.

"Collectively, the Victorian Spring Racing Carnival is the southern hemisphere’s greatest racing event, if not the world’s, which is further confirmed by this announcement."

Moonee Valley Racing Club chairman, Don Casboult said: "This is a tremendous day for the Moonee Valley Racing Club and the Ladbrokes Cox Plate. This prize money increase is a significant boost for our great race and ensures that the Cox Plate remains the pinnacle of Australian racing.

"The Cox Plate honour roll features the greatest horses we have seen race in Australia over the past 97 years. As we move towards the 100th running of the Ladbrokes Cox Plate in 2020, the MVRC has been committed to securing this uplift to prize money to ensure we continue to attract the best horses from Australia and overseas.

"This prizemoney increase has been delivered through the strong relationship that the MVRC has with Racing Victoria. I thank Racing Victoria for their tremendous support of our drive to achieve this outcome. I also thank our major partner Ladbrokes for their support of the MVRC and the Cox Plate.

"Next week, the MVRC will issue invitations to the best international weight-for-age middle distance turf horses to travel to Melbourne to contest the Ladbrokes Cox Plate on Saturday, October 27."

Country Racing Victoria’s chief executive, Scott Whiteman said: "Country racing plays a crucial role in the success of Victorian racing and it’s important that it remains strong and vibrant to showcase our sport in communities right across the state.

"We’re delighted to announce today that every country cup, from our high-profile cups during the Spring Racing Carnival to our once-a-year picnic cups, will get a prize money increase next season and over the coming weeks we’ll be working with each Club and Racing Victoria to finalise the details of their funding increase.

"Country Racing Victoria has campaigned for increases to minimum prize money at our grass roots level and thus we also welcome the increases that have been announced today for Non-TAB and SKY2 meetings, as well as for Benchmark 58 races. They are important to maintain and hopefully grow participation."